Member Info for Moneyman64

Jammyc -the Chinese of a Middle East Wealth Fund looking to secure a long term income stream and secure supplies of chrome and. PGM

Simply look at the balance sheet at 31/3/2023 -the balance sheet total after deducting all liabilities and minority interest is $603 million dollars -divide this by 1.2 and the number of shares you get £1.67 per share-also the P/E ratio of about 5 probably equates to this price.

How much would it cost to build the Tharisa SA operation today-probably more than$600 million ?

At these prices how about a few million used to buy back some shares-must be some spare cash despite the “Karo anchor around the neck”

Can any savings be made at Karo and can the cash cost per PGM ounze be reduced.?

Alternatively with a still very low pe and a long length supply of chrome and Pgm a cheeky takeover bid could emerge-who wouldn’t walk away with £1.50 per share now

If high cost Pgm producers are forced to cease production (as indicated in recent articles) this will eventually curtail supply and in theory PGM prices should rebound .

Remember some high cost PGM producers were “granted a stay of execution “ due to the basket price increase due to Covid etc

F1 driver -Indicated can be defined as “suggest as a desirable or necessary course of action”-I have not used the phrase “clearly stated” as you have indicated-think there is a difference.

Agree the timeline might move -but it could move forward or backwards -no doubt it is desirable to get the deal over the line sooner rather than later

All very encouraging and some excellent posts.

I would hope for a minimum sale price equivalent to the IPO price of £1.56 which would equate to a sale price circa £1 billion

Strange that people are selling at this level driving down the price when the board have indicated that the end game will be clear within 6 months time -must be short term traders -I am sure people who have been here years will not be selling.

Why would key employees be taking shares in lieu of salaries if they weren’t confident of something material happening.

The big question is China or a middle eastern country such as Saudi Arabia.

Doesn’t a proportion of the licence area remain unexplored -should this be included in any deal or retained?

PGM prices are getting to the point where some producers are becoming uneconomical and new projects being deferred -something must give as supplies become less.

At least we have chrome and longterm demand for platinium looks strong.

Also probably some concern that Karo will be completed within budget-the HZM RNS stating that mine construction costs will be at least 35% more than anticipated could have well spooked investors elsewhere -guess we will have an indication in a few days

Big buy of £6k -a gambler’s last role of the dice.?

Not really material compared to the £100 million plus project capital cost overrun !

If management can’t get their capital budget right why should their production costs and projections believe?

Wrong again Bushy -see my post 11.54 today on the HZM board about selling when the price was high -more than doubled my money there-have sold some here last year but still see bright future despite your continual hot hair.

Unlike you I have no need to make schoolboy comments about other posters

“If we did not learn the lessons from the past we would be doomed to repeat the same errors” according Santayana.

Yesterday RNs blow a unrepairable hole in the trustworthiness of the Management -huge mountain to claim here -might be a couple of “dead cut bounces” but even 40p is for dreamers -cost overrun is “at least 35%”

AIM shares that fall 90% from their all time highs very rarely turn out well

Just above 1p in old money having been 10p once (all before the 1 in 20 share consolidation to make the shareprice look good) -another AIM share to join the “90% fall club” unfortunately.

Well done JM and co

It’s amazing that some people think using capital letters will make a shareprice move up here or on some other boards move down

Bushy -when will you learn-how has HUM performed over the last 3 days-down how much and still falling -although I suppose in your World it has gone up and the net current liabilities of just under $98 million is a sign of good financial health.

I suppose when a share performs like that all you can come up with are crude sexual references -sad so sad

Not very encouraging to state the capital cost of the project will exceed budget by at least 35% -what is it 40% ,45% or more? Don’t the Bod know?

How are the extra costs going to be financed? Do the Bod actually know?

What is the revised NPV of stage 1 and what are the knock on effects on Stage 2 -wasn’t earnings from Stage 1 supposed to finance Stage 2 -the revised capital costs etc have a knock on affect on stage 2.

Could disposing of/“JVING” the company’s other project provided the extra finance.

Too many questions/uncertainties to buy now -will review once project complete and all costs known and financing clear.

Hope this comes across as a thoughtful post and not a deramp

Sorry should read “more or less within budget”

It is very strange that a budgeted capital project increases 35% when 65% of the project has apparently been completed more or less within project.

Martin and Co need to explain in detail how this has arisen and how the extra costs are to be funded -until this is explained in detail I would not even consider buying one share-the shares are not are bargain currently at any price -the future of this company as a going concern is fundamentally uncertain-if the likes of Glencore bail HZM out it will be at a very heavy price to current shareholders!

Perhaps the “hole” for the mine was dug in the wrong place

35% budgeted over run and delayed production -the B of D must have been asleep at the wheel.-this persumably is higher overrun if you take into account contingency allowances in the budgeted

I thank my lucky stars I sold 90% plus of my holding at 7p in old. money (£1.40).

There was high share dilution when the project was financed -a lot more to come now the shareprice is below 2p in old money

Unlike you Bushy I do not make figures up to suit my agenda -the net current liabilities for HUM are per their accounts issued last week

Actual net current liabilities at HUM are $98 million so have converted to approx £85 million.

Future totally dependent on gold prices,,ramping up production and hitting anticipated production costs-Jubilee produce PGMs,chrome and copper with the ability to produce other metals..

Why ramp HUM -a company in serious financial trouble and continue to post untruths ?

With net current liabilities of £85 million including a large loan repayment HUM looks in pole position for a large placing to survive